Zijin Mining 2899

Re: Zijin Mining 2899

Postby winston » Mon Feb 11, 2019 11:44 am

not vested



Zijin Mining Group (2899) announced that the Board had reviewed and resolved that the Group shall apply to the CSRC for public issuance of A shares, which would raise gross proceeds of up to RMB 8 billion that will be used in the cash takeover of 100% interest of Nevsun Resources.

Nevsun is a mine exploration and development company focusing on copper, zinc and gold. It owns 60% interest in the Bisha copper-zinc mine project in Eritrea, Africa, which is currently in production, as well as the Timok copper-gold mine project in Serbia. The aforementioned two mines are Nevsun`s flags hip projects.

In total, Nevsun owns 27 exploration permits in Serbia, Eritrea and Macedonia. The acquisition aligns with the Group`s formulated development strategies of internationalization, project upsizing and asset securitization. (I do not hold the above stock)

Buy-in Price: $2.90, Target Price: $3.15, Cut Loss Price: $2.80

Source: Phillips
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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